Matrix Service Co. (MTRX) Trading Down 2.8%
Matrix Service Co. (NASDAQ:MTRX) traded down 2.8% on Thursday . The company traded as low as $17.79 and last traded at $17.98, with a volume of 136,043 shares trading hands. The stock had previously closed at $18.49.
A number of research analysts recently issued reports on the company. DA Davidson reaffirmed a “buy” rating and set a $20.00 target price on shares of Matrix Service in a report on Friday, August 26th. Zacks Investment Research raised Matrix Service from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 13th. Barclays PLC lowered their target price on Matrix Service from $41.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, June 6th. Finally, Avondale Partners raised Matrix Service from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a report on Friday, May 6th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $24.33.
The firm has a 50-day moving average price of $17.17 and a 200 day moving average price of $17.21. The company has a market cap of $492.11 million and a PE ratio of 16.36.
Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings results on Tuesday, August 30th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.04. The firm had revenue of $359.60 million for the quarter. During the same quarter in the previous year, the business earned $0.40 earnings per share. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities analysts expect that Matrix Service Co. will post $1.30 earnings per share for the current fiscal year.
Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s Electrical Infrastructure segment primarily provides construction and maintenance services to a range of power generation facilities, such as combined cycle plants and renewable energy installations.